[Show all top banners]
Back to: Career/College Refresh page to view new replies
 Microeconomics Question
[VIEWED 4727 TIMES]
SAVE! for ease of future access.
Posted on 09-27-11 8:09 AM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

 Hi, can someone please help me with the following questions?

Each unit of input, X, costs $10.  Fixed costs are $50, regardless of the level of output.

 a.                   Complete the table below.

 

 

 

Labor, X

 

Total

Output (TPP)

Marginal

Physical

Product (MPP)

 

 

 

TFC

 

 

 

TVC

 

 

 

TC

 

 

 

AFC

 

 

 

AVC

 

 

 

ATC

 

 

 

MC/unit

0

0

 

 

 

 

 

 

 

 

1

15

 

 

 

 

 

 

 

 

2

45

 

 

 

 

 

 

 

 

3

70

 

 

 

 

 

 

 

 

4

90

 

 

 

 

 

 

 

 

5

105

 

 

 

 

 

 

 

 

6

110

 

 

 

 

 

 

 

 

7

112

 

 

 

 

 

 

 

 

 b.                  If the product can be sold for $0.75 per unit, what is the optimal level of output?

  

c.                   Find the level of profit at the optimal level of output.  Explain what would happen if the firm produced one more unit of output in terms of marginal cost and marginal revenue.


Please provide explanations for b and c.  Appreciate all the help I can get.  It's a school assignment. Thanks.


 
Posted on 09-27-11 8:20 AM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Sorry, this is the full table:

Labor, X

TPP

MPP

TFC

TVC

TC

AFC

AVC

ATC

MC/unit

0

0

 

 

 

 

 

 

 

 

1

15

 

 

 

 

 

 

 

 

2

45

 

 

 

 

 

 

 

 

3

70

 

 

 

 

 

 

 

 

4

90

 

 

 

 

 

 

 

 

5

105

 

 

 

 

 

 

 

 

6

110

 

 

 

 

 

 

 

 

7

112

 

 

 

 

 

 

 

 

 


 
Posted on 09-27-11 8:22 AM     [Snapshot: 21]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

 and the two related questions:

b.                   If the product can be sold for $0.75 per unit, what is the optimal level of output?

 

c.                  Find the level of profit at the optimal level of output.  Explain what would happen if the firm produced one more unit of output in terms of marginal cost and marginal revenue.

Appreciate all the help I can get, along with the explanations for b and c.  Thanks!


 


Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 30 days
Recommended Popular Threads Controvertial Threads
TPS Re-registration case still pending ..
nrn citizenship
ढ्याउ गर्दा दसैँको खसी गनाउच
मन भित्र को पत्रै पत्र!
They are openly permitting undocumented immigrants to participate in federal elections in Arizona now.
lost $3500 on penny stocks !!!
जाडो, बा र म……
Nepalese Students Face Deportation over Pro-Palestine Protest
Driver license help ASAP sathiharu
Is this a progressive step?
Trasiting through Istanbul, Turkey
Changing job after i-140 approval
TPS Reregistration and EAD Approval Timeline.......
Nepali **fake** Veterans. Be aware!!
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.

Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters